As the Federal Reserve continues its efforts to drive inflation lower this year and next, the ABA Economic Advisory Committee expects stalling economic growth in 2023, followed by a modest recovery in 2024.
Bank economists expect credit conditions to soften over the next six months as the economy slows and the Federal Reserve considers additional steps to rein in inflation, according to the Credit Conditions Index released this week by ABA’s Economic Advisory Committee.
Weakening consumer and business spending, and improving supply chains, will support the Federal Reserve’s efforts to drive inflation lower this year and next toward its 2% target, according to the latest forecast of ABA’s Economic Advisory Committee, released this week.
With the Fed taking action to raise rates and choke off inflation, the nation’s top economists forecast that economic growth will slow to 1.6% this year and 1.5% in 2023, before rising to 2% in 2024, according to ABA’s Economic Advisory Committee.
ABA Economic Advisory Committee Chair Richard DeKaser offers the EAC’s consensus forecast that the Fed will indeed stick the landing, reducing inflation gradually without harming employment or causing a recession.
Top economists from the largest U.S. banks expect credit market conditions to weaken amid high inflation, according to the American Bankers Association’s Credit Conditions Outlook released today.
Top economists from the largest U.S. banks expect credit conditions to continue improving for both consumers and businesses over the next six months, according to ABA’s Credit Conditions Outlook released today.
The nation’s top economists forecast that economic growth will slow from 5.5% last year to 3.3% in 2022 and 2.3% next year, according to the American Bankers Association’s Economic Advisory Committee.
Top economists from the largest U.S. banks expect credit conditions to continue improving for both consumers and businesses over the next six months, according to ABA’s Credit Conditions Outlook released today.
With the Consumer Price Index rising 5.4% year-on-year in September, questions continue to simmer about how persistent and long-lasting inflation will be.